Participated · Series A · Jul 2018

Inversago Pharma is a clinical-stage biotech in Montreal focused on developing first-in-class, peripherally-acting CB1 inverse agonists. Its lead program, INV-202, is being advanced for Diabetic Kidney Disease (DKD) and is slated to enter a Phase 2 clinical trial in Q4 2022. The company announced FDA IND clearance for INV-202 and expects Phase 1b topline results in subjects with metabolic syndrome. Proceeds from the Series C will also accelerate multiple preclinical programs across its pipeline. Inversago aims to establish leadership in the field of CB1 blockade and to develop therapies for cardiometabolic, fibrotic, and other metabolic conditions. The company is privately owned and targets indications including DKD, Type 1 and Type 2 Diabetes, NASH, complications of obesity, hypertriglyceridemia, and progressive-fibrosis interstitial lung diseases. Inversago Pharma is a preclinical-stage biotech focused on first-in-class, peripherally-acting CB1 inverse agonists. Its lead candidate is INV-101 and the company plans to use recent proceeds to advance INV-101 to clinical proof-of-concept while progressing research on other selected compounds. Inversago targets metabolic and fibrotic conditions including Prader-Willi syndrome (PWS), non-alcoholic steatohepatitis (NASH), type 1 diabetes and diabetic nephropathy. The company’s approach is designed to inhibit peripheral CB1 signaling—thought to be activated in many of these diseases—while avoiding the CNS liabilities associated with central CB1 blockade. Clinical and scientific data cited by the company support CB1 inhibition as an effective therapeutic strategy in several diseases, and Inversago emphasizes a safer therapeutic window through peripheral-only action. Following the financing the company expanded its board to help transition from preclinical work toward first-in-human trials. Inversago Pharma is a Montreal-based, preclinical-stage company developing new generations of peripherally-restricted CB1 inverse agonists/antagonists for Prader-Willi Syndrome, type 1 diabetes, obesity and other metabolic disorders including NASH. Its core product is a CB1 receptor blocker designed to avoid the central nervous system adverse events that terminated earlier, centrally-acting CB1 programs. The company’s technology is based on work by CB1 expert George Kunos at the NIH/NIAAA and has shown in preclinical models that peripheral CB1 blockade can treat obesity, NASH, liver fibrosis and diabetes without the behavioral CNS effects of earlier compounds. Inversago intends to advance its peripherally-restricted CB1 program into clinical trials. The company launched operations to exploit the therapeutic potential of reinstated CB1 blockade across multiple metabolic indications. The announced Series A financing will support the company’s development plan and progression toward clinical development.

Participated · Equity · Nov 2016

Zucara Therapeutics is a Toronto-based diabetes life sciences company developing ZT-01, a first-in-class, once-daily therapeutic to prevent hypoglycemia in people with type 1 diabetes and insulin-dependent type 2 diabetes. ZT-01 is designed as an SST receptor 2 antagonist to inhibit somatostatin and restore glucagon secretion, improving the body’s counterregulatory response to low blood glucose. Zucara has demonstrated that ZT-01 can increase the glucagon response in people with T1D. The company completed a US$25 million Series B financing to support its clinical and development programs. Proceeds are intended to fund the remainder of the ongoing Phase 2a ZONE trial and the nonclinical development of a once-weekly version of ZT-01. The financing brings strategic and mission-driven investors into the syndicate to advance the candidate toward later-stage development. Zucara Therapeutics is developing ZT-01, a once-daily therapeutic intended to prevent insulin-induced hypoglycemia in patients using insulin therapy. ZT-01 is designed to inhibit somatostatin, restoring glucagon secretion and the body’s ability to recover from hypoglycemia. The company positions ZT-01 as a first-in-class therapy that could improve diabetes management and reduce dangerous hypoglycemic episodes. Zucara was co-founded by Toronto Innovation Acceleration Partners and adMare BioInnovations based on foundational intellectual property from the University of Toronto. Preclinical R&D was supported by more than US$7 million in funding, including US$3.9M from The Leona M. and Harry B. Helmsley Charitable Trust and US$0.8M from JDRF International. The company is preparing to initiate a Phase 1 clinical trial of ZT-01 in mid-2020 and intends to advance the program through Phase 2. Zucara Therapeutics is a diabetes life sciences company developing the first once-daily therapeutic to prevent low blood glucose (hypoglycemia); its lead candidate is ZT-01. The company is a spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation and is based in Toronto and Vancouver, British Columbia. Zucara plans GLP toxicology, GMP manufacturing and IND/CTA‑enabling activities to advance ZT-01 into Phase I clinical trials in 2019, with preclinical work led by CSO Dr. Richard Liggins and scientific support from founding scientist Dr. Michael Riddell. The company secured US$3.9M in non-dilutive funding structured as a program-related investment (PRI) loan from The Leona M. and Harry B. Helmsley Charitable Trust to support preclinical advancement. This new support builds on more than US$1M in earlier funding from JDRF International, the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), CDRD and MaRS Innovation. Zucara will join a Helmsley-supported scientific working group focused on understanding and restoring pancreatic mechanisms to prevent hypoglycemia and continues to collaborate with CDRD to advance its product. Zucara Therapeutics is a pre-clinical life sciences company and a spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation. The company’s lead program is a first-in-class therapeutic designed to prevent dangerous low blood sugar by inhibiting somatostatin and restoring counter-regulation in people with diabetes. Founding scientists include Dr. Michael Riddell and Dr. Richard Liggins, who serves as chief scientific officer. Zucara has shown proof-of-principle in animal models and plans to advance its lead candidate through IND-enabling studies. JDRF has provided previous support to the underlying academic work and has contributed new funding to ready the program for clinical testing beginning in 2019. The company aims to reduce hypoglycemia incidence without affecting insulin efficacy, improving glucose management and long-term outcomes for people with type 1 diabetes. Zucara Therapeutics is a pre-clinical life sciences spin-off of The Centre for Drug Research and Development (CDRD) and MaRS Innovation developing a first-in-class, once-daily drug to prevent hypoglycemia in patients with diabetes. The program targets somatostatin type 2 receptors in the pancreas to prevent low blood sugar and restore natural glucose regulation, offering a preventative approach unlike rescue therapies. The company licensed a set of compounds from CDRD and is selecting and advancing a lead drug candidate. Further validation and in vivo studies are ongoing. Zucara says the recent funding provides runway to reach near-term value-creating milestones and advance the program toward clinical development. The company plans to seek Series A financing in early 2017 to take the program into clinical trials, which are expected to start in 2018.

Participated · Series A · Feb 2016

ScarX Therapeutics is commercializing SCX-001, a topical formulation of nefopam intended to reduce hypertrophic post-surgical scarring and improve wound healing. The drug candidate is built on Dr. Benjamin Alman’s discovery that nefopam modulates beta-catenin, a protein associated with excessive dermal scarring; the technology originated at The Hospital for Sick Children (SickKids). The company plans to use its recent financing to complete a Phase I, single-site clinical trial enrolling 24 subjects over 18 months to establish a safety profile and collect secondary observational efficacy signals. ScarX was spun off by MaRS Innovation and SickKids and is led by Dr. Alman (scientific founder and chief science officer) and Stephen Whitehead (president and CEO). Prior to the Series A, the company raised $1.7M in dilutive funding and $1.0M in non-dilutive funding to support lead candidate development and preclinical studies. The company is based in Toronto, Canada.

Participated · Equity · Sep 2015

Encycle Therapeutics is a University of Toronto spin‑off drug discovery company developing the nacellin platform chemistry to generate membrane‑permeable, orally bioavailable scaffolds for targeting protein–protein interactions. Its lead program is a non‑immunogenic, orally bioavailable inhibitor of integrin alpha‑4‑beta‑7 for inflammatory bowel disease. The company has generated several nacellin scaffolds and is advancing a pipeline of novel therapeutics. Encycle has active research collaborations with major pharmaceutical companies including AstraZeneca, GSK, Merck, Pfizer and Takeda. It intends to use new funding to further develop its platform and pipeline, expand research collaborations, and position itself for a Series A and/or strategic partnerships. Dr. Jeffrey Coull serves as president and CEO, and the company was created in partnership with MaRS Innovation.